The conspiracy theorists who wondered why a major Employment Report would be released on a market holiday (Good Friday) were rewarded with a bit of tasty news last Friday. Likely they will be out in droves today!
Weak Employment Report
With a street expectation of 247k jobs gained for the month of March a very low actual number of 126k was a surprise. Not all the news was bad, and we think this may be an aberration.
The blue line is the unemployment rate which continues to decline (good news.) Noting the last time we had a low report, orange line (August 14) a fast bounce back up to the 200k’s occurred. We think this may be the case again, as somehow energy prices and the strong dollar effects have seeped into this report.
Next months report will be even more important, but for now, unfortunately Janet Yellen, Federal Reserve Chair WILL NOT raise short-term rates if this continues.
Have a great Monday!
John A. Kvale CFA, CFP
8222 Douglas Ave # 590
Dallas, TX 75225